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    Oak Forest Industrial Building For Sale

    16420 KILBOURN Avenue Oak Forest, IL 60452

    16420 KILBOURN Avenue, Oak Forest, IL, 60452
    $1,699,000
    For Sale
    Under Contract
    Claim this Listing
    $1,699,000

    COMMERCIAL - Oak Forest, IL

    Property Size20,025 SF
    Lot Size1.31 Acres
    Price / SF$84.84
    AddedMar 25
    Days on Market114
    Last RefreshJul 16 at 1:06 pm

    Property Features for 16420 KILBOURN Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    INDUS
    Standard status
    Active Under Contract
    APN
    28224240140000
    Lot size
    1.31 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    24859

    Utilities

    Utilities
    Water Available
    Cooling system
    Central Air

    Building Details

    Year built
    1977
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Tile, Carpet, Concrete
    Building materials
    Brick, Concrete, Steel Siding

    Listing agent Ruben Vallejo License #475130714

    Listing office Village Realty, Inc. 20950 S. Frankfort Sq Rd # C, Frankfort, IL

    Listing date Mar 25, 2026

    MLS# 12452259

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Investment Insights

    Based on property information with market context.

    This stand-alone industrial building in Oak Forest features two interior docks and one drive-in door. The building encompasses 20,025 square feet, including approximately 4,500 square feet of office space, situated on a 1.3-acre lot. It is zoned I-1 Industrial. The office area includes a main office, conference room, space for cubicles, a vestibule, an IT room, a kitchen and lunchroom, a blueprint room, a shop manager's office, four bathrooms, and a storage loft area. The warehouse has a demising wall separating it from the manufacturing area. The ceiling height is 18 feet clear. The entire building is fire sprinklered and freshly painted. It benefits from a Cook County 6B property tax incentive, which has 7 years remaining and is renewable. New carpet and ceiling tiles have been installed, and the warehouse has been partially painted. Newer LED lights with motion sensors are in place. All racks and office furniture will remain. The property offers ample parking and provides easy and quick access to I-57, I-80, I-294, and I-94. The building is equipped with 800 amp and 3-phase service.

    Key Highlights

    • 20,025 SF stand‑alone industrial building on a 1.3‑acre lot with two interior docks and one drive‑in door
    • 18 ft clear ceiling height and demising wall separating warehouse from manufacturing space
    • Zoned I‑1 Industrial; 4,500 SF office space with main office, conference room, cubicle area, and IT room

    Local Financial Insights For Warehouse

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $129.8k $6.48
    − Vacancy −$6.6k −$0.33
    EGI $123.1k $6.15
    − OpEx −$18.5k −$0.92
    NOI $104.7k $5.23
    20,025 SF · lease $6.48/SF/yr · vacancy 5.10% · expense 15.00%

    Alternative Uses

    Best Use
    Warehouse
    $1.50M
    $1.31M – $1.74M (±1% cap)
    NOI $104,673 @ 7.0% cap · market cap 6.16%
    Second Best
    Industrial
    $1.23M
    $1.08M – $1.44M (±1% cap)
    NOI $86,201 @ 7.0% cap · market cap 5.07%
    Theoretical Best
    Office A
    $6.91M
    $6.05M – $8.07M (±1% cap)
    NOI $483,960 @ 7.0% cap · market cap 28.48%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Location Intelligence

    Current Use by Public Records

    Manufacturing properties

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    FAQs

    What type of property is this?
    Manufacturing property - 20,025 SF industrial building with office space on 1.3-acre lot.
    Where is this manufacturing property located?
    The property is located at 16420 KILBOURN Avenue Oak Forest, IL.
    What is the asking price?
    The asking price for this property is $1,699,000.
    What are key features of this property?
    This property features: 20,025 SF stand‑alone industrial building on a 1.3‑acre lot with two interior docks and one drive‑in door; 18 ft clear ceiling height and demising wall separating warehouse from manufacturing space; Zoned I‑1 Industrial; 4,500 SF office space with main office, conference room, cubicle area, and IT room
    Contact an agent
    (708) 478-1212
    We can help!
    Contact an agent
    Ruben Vallejo
    Ruben Vallejo
    Real Estate License ID: 475130714
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